Posted on: 14th May, 2009 02:28 pm
Hi my name is Nick
I am in a chapter 13 Bk. I have 2 more years left on my plan. I had 2 rental homes (which have been granted relief from stay). I have my current house which is being forclosed on right now but we are fighting to save it. My wife lost her job a year ago and we are not able to pay our mortgage because we have loss half of our income. Is there any way we can get a hardship discharge or convert to a chapter 7 bk? The reason I asked also is because we have a 1997 BMW with over 220,000 (paid for). and a 2001 GMC YUKON which the payments were $320.00 before we entered the Bk. Is there anything we can do to keep the cars either with a hardship discharge or conversion to a Chapter 7?
I am in a chapter 13 Bk. I have 2 more years left on my plan. I had 2 rental homes (which have been granted relief from stay). I have my current house which is being forclosed on right now but we are fighting to save it. My wife lost her job a year ago and we are not able to pay our mortgage because we have loss half of our income. Is there any way we can get a hardship discharge or convert to a chapter 7 bk? The reason I asked also is because we have a 1997 BMW with over 220,000 (paid for). and a 2001 GMC YUKON which the payments were $320.00 before we entered the Bk. Is there anything we can do to keep the cars either with a hardship discharge or conversion to a Chapter 7?
Hi niquae,
If you are finding it difficult to continue making payments under the chapter 13 plan, you can request the court to grant you a hardship discharge. If the court is convinced that your current financial problem is not due to a fault of your own, but because of some factors over which you have no control, they may grant you a hardship discharge. To know more on hardship discharge you can refer to the following page:
http://www.mortgagefit.com/bankruptcy/hardship-discharge.html
If you are finding it difficult to continue making payments under the chapter 13 plan, you can request the court to grant you a hardship discharge. If the court is convinced that your current financial problem is not due to a fault of your own, but because of some factors over which you have no control, they may grant you a hardship discharge. To know more on hardship discharge you can refer to the following page:
http://www.mortgagefit.com/bankruptcy/hardship-discharge.html